[Published: Monday November 28 2016]
Zimbabwe currency fears
Harare 28 Nov (ANA) - Zimbabwe has launched its own money for the first time since the country's dollar was abandoned seven years ago amid rampant inflation. The bond note, which is worth one US dollar - the country's main currency since 2009 - is raising fears of a return to the ill-fated local dollar. The move, first announced in May, has fuelled some of the biggest protests in a decade against President Mugabe. The government has issued the bond note to tackle a worsening cash shortage. It hopes the cash substitute, which is legal tender in Zimbabwe but is not valid outside the country, will halt the flow of US dollars going overseas. Initially, an amount worth $10m is being introduced into circulation in two and five dollar denominations.(ANA)
FA/ANA/28 November 2016----
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